Oil price hike today
MANILA, Philippines — Oil companies are implementing another round of price increases on fuel products today.
Gasoline prices will go up by P0.70 per liter, diesel by P0.30 and kerosene by P0.40 per liter.
This is the fourth consecutive week that gasoline prices have increased, and the eighth week for diesel and kerosene.
Chevron, which operates Caltex, said its price hike would take effect at 12:01 a.m.
In separate advisories, Flying V, Petro Gazz, Petron Corp., Phoenix Petroleum Philippines Inc., Pilipinas Shell Petroleum Corp., PTT Philippines and Seaoil Philippines said their price adjustments would take effect at 6 a.m. today.
Meanwhile, Cleanfuel’s adjustment would take effect at 4:01 p.m.
In the past trading week, global oil prices managed to end on a positive note on the back of optimism about recovering fuel demand worldwide, Reuters reported.
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